UK-Born Fintech Fimple Expands to Egypt With New Digital Banking Hub
Fimple has launched its Egypt subsidiary in Cairo Festival City, tapping into the region’s fintech sector.
Fimple, a UK-based provider of cloud-native, API-first core banking solutions, has announced the launch of Fimple Egypt Digital Solutions, a new subsidiary located in Cairo Festival City. This expansion aims to strengthen Fimple's presence in the region and collaborate closely with local banks, fintech companies, and industry leaders.
"For centuries, Turkey and Egypt have been the beating heart of civilization, bridging continents, cultures, and economies. Today, Fimple is building on this legacy by creating a new bridge, one that connects technology, finance, and innovation across borders," Ahmed Samy Tayel, CEO of Fimple Egypt, said.
From its Cairo base, Fimple plans to serve financial institutions across the Gulf, Africa, and Europe, focusing on secure banking technologies that enhance customer experiences and ensure regulatory compliance.
Over the past five years, Egypt's fintech sector has experienced significant growth, expanding 5.5 times to encompass 177 startups and payment service providers across more than 14 sub-sectors, according to a report by Entlaq. This expansion has been driven by advancements in digital payments, lending platforms, and B2B marketplaces, supported by government policies promoting financial inclusion and digitisation.
